Leading Bank Leumi into the Future

Joshua D. Margolis; Allison M. Ciechanover; Nicole  Keller; Danielle   Golan

Case | HBS Case Collection | October 2019

Leading Bank Leumi into the Future

by Joshua D. Margolis, Allison M. Ciechanover, Nicole Keller and Danielle Golan

Abstract

An unlikely but highly effective leader of a traditional bank, Rakefet Russak-Aminoach, simultaneously leads a classic change effort and an unconventional effort to innovate. She focuses her initial energy on making the bank more efficient in the face of industry changes and then rolls out a self-disrupting, independent mobile-app bank, aimed at millennials and designed to anticipate the coming transformation from fintech. The case documents the difficult situation she faced stepping into the CEO role, her change efforts, and her distinctive leadership style and how it has evolved. It ends with the enduring question of when to integrate an incubated business unit that was separate intentionally to spark innovation.

Keywords: mobile banking; digital banking; fintech; Startup; financial services; artificial intelligence; leadership; innovation; efficiency; Organizational change; personal development; female ceo; Banks and Banking; Mobile Technology; Leadership; Organizational Change and Adaptation; Innovation and Invention; Disruption; Information Technology; Opportunities; Performance Effectiveness; Personal Development and Career; Financial Services Industry; Banking Industry; Israel;

Language: English

Format: Print

22 pages

Educators

Citation:

Margolis, Joshua D., Allison M. Ciechanover, Nicole Keller, and Danielle Golan. "Leading Bank Leumi into the Future." Harvard Business School Case 420-063, October 2019.

This case addresses the nuances of gender dynamics and career progression at the top of the organization, where even women who have strong leadership expertise, experience, and alliances with powerful male colleagues still get stuck. Told from the point of view of Sonia Millar, the case explicitly presents two significant challenges: How can Millar sustain her career momentum into the CEO role despite taking on the critical but difficult role of CIO? How can Millar address the potentially antagonistic actions of another business leader who may be another strong contender for the CEO promotion? The case provides the opportunity to discuss influence, action planning, talent management, inclusion, and implicit bias. It is designed to provoke debate in the classroom regarding the phenomenon of gender bias (among other forms of bias) in the workplace. It is recommended for upper-level undergraduates, MBA candidates, and executive education participants in courses focused on organizational behavior, power and politics, leadership, diversity, and career management.

Faculty & Research

Leading Bank Leumi into the Future

Abstract

Citation:

About the Author

More from the Author